Anyone who has read Street Register before most likely knows that the cannabis space is among our favorite sectors to track and discuss. Even as the recent crypto boom took center stage, we made it a point to continue searching for new opportunities in cannabis, and Sunset Island Group, Inc (OTCMKTS:SIGO) is the latest company to catch our eye.
The company has revealed that it attained a key milestone that will enable it to take itself from a mere grower to full service producer of multiple cannabis derived products that go beyond the mere flower itself. This adds another dimension to the company’s portfolio, and the news has caused a spike in interest, which in turn is leading to an increase in share price.
Sunset Island Group, Inc (OTCMKTS:SIGO) kicked this week off by that the company has received its cannabis manufacturing license. CEO Valerie Baugher stated, “We did not expect it this fast, but we are pleased to announce today that we have received our manufacturing license and will begin to ramp up production of our manufactured products. Multiple revenue streams are always a good thing for businesses like ours and we look forward to producing products that are in high demand. We will start with extracts, distillates and vape cartridges and we will look to add edibles as well. From there we will look at topicals and other processed cannabis products, the ultimate goal being to build a “brand” that over time will become as valuable as the products themselves.”
Ms. Baugher went on to say, “We now have our cultivation and manufacturing licenses secured and the next step is the distribution license. We would hope that this final step will take place by the end of January, but either way, we will let our shareholders know when received. Our team has made quite a bit of progress over the last few months and I just want to take the time to thank them for coming together and building out a firm foundation upon which we will grow a strong and successful business for the year 2018. Thank you all for your continued support.” (Source: PR Newswire)
SIGO is a sun-powered grower, with tens of thousands of square feet of greenhouse growing space in operation Northern California. Although having previously listed its principal line of business as cultivation of medical cannabis, new doors will now obviously be opened up with the recreational market, and the company’s newly acquired ability to manufacture ancillary products.
Despite the current friction caused by the federal agenda on cannabis, which is currently prohibitive and damaging, we feel that it is only a temporary source of resistance. In no way can Washington lawmakers or enforcement of any kind stem the tide of the nation’s most vibrant new industry which supports tens of thousands of jobs, tens of millions in tax revenue, and billions in economic activity in the United States. It would be irresponsible for Americans to let that happen. That’s why we feel like we’ll be discussing cannabis companies like this one for a long time to come.
We’ll be interested to track SIGO’s progress toward its distributor’s license to complete the beginning stages of its business plan in the California cannabis market. Keep it locked on Street Register for updates, and we’ll deliver important developments on SIGO as they unfold. In the meantime, if you’ve yet to sign up for our 100% free newsletter, do so now! Just enter your active email address into the box below and submit!
Disclosure: No one at Street Register has been compensated in any way for the publishing of this article, nor do we hold any position in SIGO stock, short or long.